Former Liverpool manager Rafa Benítez has been hired to coach Panathinaikos on a deal that Greek media reported to be the country's highest-ever salary for a coach.
The struggling Athens club, who enter the weekend in seventh place in the 14-team Greek Super League, announced on Friday that the well-traveled Spaniard signed a contract that reportedly extends to 2027.
Local media reported the deal is worth close to €4 million ($4.6m) per season and includes an option to extend for an additional season.
The 65-year-old Benítez, who has also coached Real Madrid, Inter Milan and Newcastle United, was fired by Celta Vigo in March 2024 after his team had won just five league games.
Benítez had been fired by Premier League club Everton after 200 days in early 2022 after failing to overcome his successful association with arch-rival Liverpool.
Under Benítez, Liverpool famously won the Champions League title in 2005 in the "Miracle of Istanbul," reached the 2007 final, and won the FA Cup in 2006.
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Benítez was Chelsea's interim manager when the London club won the Europa League title in 2013. He led Napoli to victory in the Italian Cup in 2014.
Real Madrid fired Benítez in January 2016 after seven months on the job.
Panathinaikos had fired Rui Vitoria last month. Christos Kontis was serving as interim coach. The team lost 3-1 at Feyenoord on Thursday in the Europa League.
Benítez's first game in charge will be on Sunday when Panathinaikos host last-place Asteras Tripolis.